This is a weekly candle chart....price has been rejected by the mid point of the bearish marubuzo candle 3 weeks ago. Support should be evident at the previous highs,a break of which would be very bearish

Sunday, 25 September 2016

Peter Hitchens/Mail Online

Syria's 'WMD moment'. Don't be duped again

Almost
everyone (barring a tiny knot of deluded losers) knows that Saddam
Hussein had no WMD. Most people now grasp that Colonel Gaddafi wasn’t
planning a massacre in Benghazi or ordering his troops to engage in mass
rapes.

How long will it be before we also grasp that neither Russia nor Syria bombed a UN aid convoy in Aleppo?

This
incident, about which almost no independently testable, checkable facts
have yet been produced, is the WMD of Syria. If we all fall for it,
then we shall very soon find ourselves embroiled in the most dangerous
international confrontation since the Cuban missile crisis.

Under
immense pressure from the despots of Saudi Arabia, the USA will not
give up its efforts to overthrow the Syrian government. It is clear that
it is now prepared to risk an open confrontation with Moscow to achieve
this. Why? Who do they think they are, and how can their cause be so
good that they take such risks?

The
deliberate sabotage of a workable peace deal in Syria (opposed from the
start by the Pentagon) is one of the scandals of our age. There was a
chance we might end the misery of millions, and it was thrown away.

We
in Britain must resist being dragged into a Syrian war, not least
because, if we are, it will not be long before any troops we send there
are being hounded in their own country for alleged war crimes. We’ve
been fooled enough by this propaganda. Don’t be bamboozled again.

this is a good article,but I like this from the comments section,even better

cdr

September 22, 2016 at 6:13 am

d,The patient (we in the US) is responding to the drug (idiotic
monetary policy) just as they expected and intended. The results you, I,
and 99.9% of us want are just not the same thing they want. The Fed is
protecting the ‘financial markets’, aka bubbles and their reputations
and a few very rich people and the politicians who work for them.

Yes, they are protecting their reputations. They MUST publicly deny
the existence of bubbles because if they admitted even one that they
caused, then they would have to explain too many uncomfortable things
that would crack the incompetence door much wider.
Even admitting 1 bubble would require them to provide explanations to:
1) If their theories are so good, why do they excel at bubbles in
financial markets and asset prices and ignore benefits to the real
economy
2) Why do they continually apply these theories if they have unintended consequences of such magnitude?
3) Why do they apply these theories over and over again if they don’t work?
4) How did “Going Bigger For Longer If It Does Not Work Today” become
the mantra to ignore failure by defining it’s failure only if you
admit your mistake and stop what you’ve been doing. Or, anything that’s
not success is never failure … it’s always success, just not as much of a
success as they wanted.
Finally, they can’t raise rates and change policy. The Fed is in a
prisoner’s dilemma with the ECB, BOJ, BOE, and most minor central banks.
The only reason monetary policy can crush interest rates so well is
that they all are doing it in a coordinated manner. If the Fed broke
ranks and tried to normalize rates, they would ruin the schemes the
other two employ … The ECB monetizing bad euro debt to keep the plate
spinning a little longer and the Japanese doing god knows what. The Fed
doesn’t want to be the one that explodes the sovereign debt bubble. How
would they explain that?
It’s not complicated, but there is a lot of BS that surrounds the bad policy they implement.

Wednesday, 21 September 2016

Sunday, 18 September 2016

this week is one of Gann's most important weeks in the year when" the
sun crosses the equator and Fall officially begins and stocks make
important changes in trend"(WD Gann The Stock Market Course,1935)

for a move lower generally I think we need to see something like this in the Nasdaq,which was strong last week
ie a spike through the upper Boll and then reverse hard

IBB has also been showing relative strength and is looking like a 3rd attempt to break 300 (25% off the low)